Tool
Cash-Out Refinance Calculator
See your new payment and the cash you could take out.
A cash-out refinance replaces your mortgage with a larger one and hands you the difference in cash. It can make sense when you need a lump sum and your current rate isn't far below today's — but if you hold a low rate, compare it carefully against a HELOC first. This calculator models the new payment and available cash.
- See how much cash you could pull from your equity
- Estimate your new monthly payment on the larger balance
- Weigh it against keeping your current rate with a HELOC
Frequently asked
How much cash can I get from a cash-out refinance?
Typically you can borrow up to about 80% of your home's value, minus your current balance — the rest is your cash. The calculator estimates both the cash and your new payment.
Should I do a cash-out refinance or a HELOC?
If your current rate is well below today's, a HELOC usually wins because it leaves your low first mortgage intact. A cash-out refinance fits better when your existing rate is already close to current rates.